Houston October 3 2024: Oil prices strengthened on Thursday on investor concern that a widening Middle East conflict could pose a threat to crude oil flows from the region.
Brent crude futures were up $2.82, or 3.82%, at $76.72 a barrel by 11:36 a.m. EDT. U.S. West Texas Intermediate crude futures rose $2.85, or 4.07%, to $72.95.
Both benchmarks climbed by more than $3 per barrel during the session.
Brent futures reached an intraday high of $77.65 per barrel, the strongest since Aug. 30, while WTI futures peaked at $73.95 per barrel, a one-month high.